Compared to previous attempts, especially those following the Orange Revolution in 2004, the current reform round in Ukraine (since 2014) has proved more successful. Some politically difficult decisions have been taken, such as the elimination of gas subsidies and the restructuring of the banking system. But reform remains incomplete in many important areas, such as local and regional self-government, public administration, the judiciary, law enforcement agencies, the energy sector and infrastructure, the pension system, privatisation and land ownership.
Since near-disaster in February 2015, Ukraine’s macroeconomic situation has stabilised. The economy stopped declining in 2016. However, macroeconomic stability remains fragile and the …read more